Californian Spends $600,000 Rebuilding Home After Insurer Cancels Policy by Suzanne Blake

Originally published at Newsweek. Read the full article here! https://www.newsweek.com/california-homeowner-insurance-wildfire-uninsured-1869206

One woman in California is searching for answers after her homeowner insurance policy left her uninsured for a $600,000 house that burned down during a wildfire.

California homeowners have been facing some unique challenges as insurance companies begin to abandon the state amid high housing costs and the frequent occurrence of wildfires and other natural disasters.

The only option for many is the California Fair Plan. The state-subsidized option, while providing some support for fire and earthquake damage, often leaves many frustrated when it comes time to rely on the coverage for repairs, though.

For other homeowners, you can typically avoid finding out your coverage doesn’t exist after an accident by keeping in regular contact with your insurer.

“Have a personal relationship with your insurance broker or agent. Instead of some big company, you are now dealing with an individual that you can talk to about your overall insurance coverage,” Sammy Lyon, an associate broker at Dow Capital, told Newsweek.

“Unfortunately, insurance companies are trying anything they can do to deny coverage right now, but having a personal relationship with your insurance agent can at least mitigate some of the loopholes companies are using to leave people uninsured.”

Originally published at Newsweek. Read the full article here! https://www.newsweek.com/california-homeowner-insurance-wildfire-uninsured-1869206